REAL ESTATE

Beyoncé and Jay Z Reportedly Renting Quaint $45 Million Palace

According to a new report, Jay Z and Beyoncé have cemented their king-and-queen-of-pop-culture status by moving into a proper palace worth $45 million. Begin gilding your housewarming gifts accordingly.

TMZ reports that entertainment’s first couple has signed a one-year lease for a new Holmby Hills estate near the Playboy Mansion. Chez Jay and Bey is owned by a British billionaire, who bought the home for $45 million last year but, as the report goes, hardly spent any time there. So what was he to do—let the 20,000-square-foot house and its Olympic-sized indoor pool, outdoor pool, waterfall, and formal gardens gather dust? Ha! No, rent it out of course for a reasonable rate—approximately $150,000 per month.

(Bey and Jay were previously renting another Holmby Hills mansion for a reported $150,000 before the owner sold the property in September.)

The power couple’s new home has interesting history, however. It was previously owned by Jamie and Frank McCourt the former Dodgers owners whose bitter, nine-digit divorce unearthed scandalous details about their spending habits—specifically loans taken out of Dodgers-related businesses for their personal benefit. Jamie McCourt sold the 2.6-acre estate in 2014 to the aforementioned billionaire. At the time of the sale, the L.A. Times said the home featured five bedrooms, six bathrooms, a spa, “a commercial kitchen, an art studio, an atrium, a bar, a billiard room, a home theater, a library/study, a dance studio and a wine cellar.”

According to TMZ, Bey and Jay chose L.A. “because they think it’s a good place to raise Blue Ivy.”